Filed In: money
Almost everyday I hear people in my age range complaining about being broke or not having enough money to fulfil their needs and wants. They all have this idea that they should be further in life financially. I wish I could ponder on where this ideal came from, but most of our lives that’s all we’ve ever been told. From television, to news outlets, to even our own family members, we have all been sold a dream on what life would be like once you make it to your latter twenties. However, I’m here to tell you that ideal is unrealistic.
Let’s be honest, our parents and grandparents had a greater chance of fulfilling the american dream before they even reached the age of 25. Careers were easier to attain and homes were easier to acquire. They made enough to live a quality life with a minute level of stress and still had money to set aside for a rainy day. Millennials, unfortunately don’t have that luxury. A large amount of us owe more than 25K in student loans, and can’t even obtain jobs in our fields to adequately pay the student loans debt down. And if we do have a decent paying job, our earnings are spent on bills and normal cost of living expenses. However, with all of those facts to back up why we’re broke, most of us still feel inadequate about our finances when compared to our peers.
Personally, I blame social media. Social media allows people to manipulate and create entire lives, and sadly people fall into the hype. It’s hard to remember everyone goes through ups and downs when people only showcase the positive sides of their life. Believe me when I say there is no one on this earth whose life is perfect. I’ve come to realize unless you’re “Oprah rich” then you’re going to be concerned about money. I’ve also learned you will never truly have enough of it either. The saying of “More Money, More Problems” is a true one, and it feels like the more money you bring in, the more money you distribute out. It’s like the universe said “You asked for more, here you go, but just know I’m adding this to your to-pay pile.”
I’ve grown to a place where I no longer stress over having enough money. If you work hard and have enough faith, God will make sure everything falls into place. I’ve also grown to a place where I’m okay with leaning on my parents financially when I need to. I use to allow others to make me feel bad when my parents would help me with my finances, but I learned they were only jealous because they didn’t have a family unit that would do the same for them. If you’re blessed enough to have family around you that you can depend on for financial help, take it. Shed the idea that it makes you “less of a grown-up.” If you are an adult dealing with real-life adult situations then no one can rid you of your adult label.
I’m now okay with knowing I’m still trying to make it to where I want to be financially. I have to remind myself I am only 26, I’ve accomplished ALOT, and I still have aways to go. So what if I don’t have an extra six-figures sitting in a bank account yet, I’m working towards it, and that’s what truly counts.
So do yourself a favor, and stop comparing your quality of life to others. Everyone’s financial situation is different and you could be comparing yourself to someone whose life is financially set up completely differently than yours. Stop beating yourself up because your younger self thought you would have more by this age. Sometimes life doesn’t work out the way you fantasized it would, and that’s okay. You have to remind yourself that in the near future you will be able to buy every fabulous thing money can buy plus more. In the meantime enjoy life, focus on bettering yourself, and reaching YOUR specific financial goal.
Until Next Time,
Happy Monday loves! It’s the first Monday in the month which can only mean one thing for the DATC…it’s time for a new playlist! Below I’ve listed 8 songs that are sure to get you through the week. Check them out now!
7. Rare x PJ
I hope you all enjoyed the list. What songs will be getting you through the week?! I would love to hear about them in the comments!
“What is your indulgence? Tell me what’s your vice?”
– Christina Aguilera
Get a sheet of paper. *I’ll Wait.* Now write at the top THEE LIST. Underline it.
This is the start of the crucial understanding of your needs and wants. On that list, put down everything that you want and splurge for and the prices.
My list includes:
Peter Thomas Roth 24k Gold Mask ($80)
BUNDLES. VIRGIN BUNDLES. ($200-400)
OnePiece Onesie ($129)
Urban Decay 24/7 Glide Eyeliner ($20 @ Sephora)
Anastasia Hollywood Dip Brown in Chocolate ($19 @ Sephora)
Grand Marnier ($39.99)
All of these things and a few others are NOT my daily essentials however when I am ahead, I know they are my immediate go to items. So I ask you, are you buying your splurge items on the daily or weekly basis? If so, what do you work towards? The key to this list is to allow you to have something to work towards and also to help you find the items that you can look forward to buying with a few extra hours in the office or a few side hustle moments. I am a firm believer in the fishbowl full of money (use a money market account). However, the only way to get ahead is with three firm money sources.
Your Everyday Spending Account (ESA). Utilize this for bills, gas, groceries. This account is for this and this only. If your light bill is $366, guess what, its budgeted in as $400. So your light bill is $400, get over it (GROSS overshot lol). Use this process to constantly be ahead on bills and stop charging your gas as credit (I do it too, smh), that one action can greatly increase the accuracy of your spending knowledge.
Your Savings account. Tell yourself every day that you will deposit $1 dollar into that account. Hell add $2 if you’re feeling jazzy. In a year, trust me, you’ll appreciate the number in that account more than the extra calories you put on from the dollar menu. The key to this account is to consider not the end result but the fact that it is constantly growing if you put in work and budget. Let it motivate you.
Lastly, Your Splurge Account. Total out your splurge list. Whatever that total is (for one of each item), use that as your endless month goal for your splurge account. If at the end of the month, you have met the other requirements of your accounts, use the splurge account. If you didn’t, then wait til next month and then reevaluate if you can splurge. HOWEVER, remember that regardless of if you wait two months to splurge, on splurge on ONE of every item on the splurge list a month at max.
Let me know how that goes for you. I’m enjoying this shxt low-key even though I don’t get to splurge every month lol.
Photo | BingImages
Not the movie lol. (That’s B.A.P.S.)
Budgeting, accounting, bargaining and saving. These four tools can completely turn your financial situation into a success story.
I’ve found that budgeting is a lot harder to do. The word itself budget holds a negative connotation. It’s like saying “I’m gonna limit something that I enjoy.” Budgeting is a great tool for the extremely disciplined, and can help you push towards financial security over time. However, discipline is key. There are many budgeting tools out there to help you. Many websites even help you consolidate your finances to assist you in creating a budget. Words to live by: “start with Google.” -Me
Accounting allows you to budget by dividing your main hub of money into individual sources for particular things. This allows you to spend but also still feel like you have money to the side. Discipline now comes into play. You have to remind yourself that if you have a spending account and it’s empty that you can’t pull from your living expense account (I go into more detail in other posts).
Now as for bargaining, it’s a great tool to feel as though you are getting a lot for a little.
“Asking for a discount doesn’t mean I’m poor. It means I’m thrifty.” -Om Puri as Papa (The 100 Foot Journey)
It’s extremely gratifying and once you get the hang of it, you will find that you will stay with a budget without even thinking about it. When I go someplace I ask what discounts are available. I shop clearance and ask if discounts exist on top of that. I use coupon codes and shop around for the best prices. It adds a little extra leg work but in the end, after only a year I’ve financially gotten ahead like I never could’ve imagined. Plus I’ve never diminished my quality of life.
Let’s not forget savings. Saving is a major part of financial success and the start of your success story. Start small and watch how it grows. There is currently a saving challenge where each week you add one more dollar than the last week and it lasts for 52 weeks. I’m currently doing it and I challenge you to join.
They key is in how you feel. Budgeting, though holding a negative connotation is an amazing tool however it’s not as immediately gratifying. Accounting can teach you to become more financially disciplined, and stay on budget without thinking about it. You’ll soon find you are more focused on how to get the most bang for your bucks. Bargaining is immediately gratifying and can over time be just as amazing in pushing you to financial progression. Last but not least, saving gives you a constant reminder that your hard work is paying off. Let your savings reflect how hard you work for it. I’ll save more on that for another time lol.
*To learn more about the author of this post click here!